Thoroughbred Financial Services LLC Has $12.01 Million Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Thoroughbred Financial Services LLC reduced its stake in The Home Depot by 2.5% in the first quarter, now holding 32,764 shares valued at approximately $12.01 million.
• Home Depot's recent earnings report showed $3.56 earnings per share, which missed estimates by $0.03, yet revenue rose 9.4% year-over-year to $39.86 billion.
• The company announced a quarterly dividend of $2.30 per share, reflecting an annualized payout of $9.20 and a yield of 2.4%.

Thoroughbred Financial Services LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,764 shares of the home improvement retailer's stock after selling 840 shares during the period. Home Depot comprises approximately 0.7% of Thoroughbred Financial Services LLC's portfolio, making the stock its 26th biggest position. Thoroughbred Financial Services LLC's holdings in Home Depot were worth $12,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HD. Invst LLC grew its stake in Home Depot by 0.4% during the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after acquiring an additional 28 shares in the last quarter. Financial Insights Inc. lifted its position in shares of Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after purchasing an additional 28 shares in the last quarter. Wayfinding Financial LLC boosted its holdings in shares of Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after purchasing an additional 28 shares during the period. Pure Portfolios Holdings LLC grew its position in Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares in the last quarter. Finally, First Interstate Bank grew its position in Home Depot by 0.3% during the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Trading Up 2.0%

Shares of NYSE:HD opened at $380.98 on Tuesday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The stock's 50-day moving average is $366.19 and its 200-day moving average is $372.71. The company has a market cap of $379.05 billion, a P/E ratio of 25.85, a P/E/G ratio of 3.55 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.63 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot's payout ratio is 62.42%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DA Davidson cut their target price on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

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